other countries and world financial state building and he said now is following the gathering in seoul. we did see a lot of smiles today but that's partly because the first day of the summit is really a day for bilateral meetings for the leaders to kind of lay the ground for the big working session that's coming up on the second day president medvedev met with british prime minister david cameron there the dialogue very positive both saying they see eye to eye on many of the top priorities of the g. twenty and of course the top top priority is the economy and you can't talk that without china president medvedev did meet with president hu jintao in bare they most likely spoke about the u.s. fiscal policy which the world is not very happy about right now the u.s. of course demanding and pushing very hard leon china to revalue its currency while at the same time pumping six hundred billion dollars into its own economy of course devaluing the dollar so an air of certainly called out on the you asked by china

and other countries like germany to talk more about this joining me is don kirk who is a journalist and author he's also a reporter for the christian science monitor thanks for being with us let's talk about these currency wars the u.s. demanding of china what it itself doesn't want to do what's that all about well the u.s. is not getting very far as you pointed out with china or with russia or with brazil or india or any of the other major powers the us has a terrific problem with its trillion dollar trade deficit how do you get around this problem the u.s. also has a trillion dollar budget deficit what are you going to do. the u.s. solution stop gap solution is to sell treasury six hundred billion dollars worth of treasury bonds which is a fancy way of printing more money and this goes on world markets and the dollar's appreciates more so the chinese position is well you're depreciating the dollar why should we really value the removal of the chinese currency which the u.s. keeps on insisting on so it's really a standoff nobody today is talking about

a consensus we're not going to reach a consensus on currency here but they are going to talk about is. you need to redress global imbalances they're going to have a lot of fun playing with words like that but after they've done all that after the wordplay is done and the handshakes are done there will be no deal year that really counts right on her going to have to leave it there thank you very much for your input i don't know of course again the high. priority at this g. twenty summit whether they find a consensus or not is going to be those currency wars the high stakes battle for the world's exchange rates the offenses and defenses over the buck parties and he said no reporting for us there and while most leaders meeting in korea do not agree with america's latest decision to print more money greg white the editor of the business insider website says no one is willing to stand up to washington. well fortunately for the united states there's always a buyer out there for us debt and everyone uses the dollar and there is no

alternative to that right now there has been some discussion about returning to the gold standard but that's extremely unlikely so right now the u.s. is in a unique position it doesn't have to worry about cuts like europe but what it can do is continue to spend as it wishes until someone can come up with a real viable political solution to this problem and there's really only two being played one by the united states and one by the rest of the g. twenty everyone's in opposition to what the united states is doing in terms of quantitative easing but the u.s. continues to do it anyway for simply there's no real strong argument against and there's no there's no binding agreement through these other countries to fight back and the world is paying the price through the asset bubbles that are being blown throughout the emerging markets you can see that in chinese inflation rates last night the amount of money that's being spent on producing new real estate in china is a sign of that capital flowing there and the world is going to pay when those asset bubbles come to burst so what we're going to get is very few headlines and just sort of this this positivity coming out of it that will in the end really fall away

within probably two or three days for more from the g. twenty in seoul and why russia's finance minister alexey couldn't thinks it's ok for the u.s. to print more money for our exclusive interview with him a little later this hour. the summer's big spy scandal is not over yet with a russian newspaper claiming it detected the man who exposed eleven russian agents working in the u.s. the commerce daily claims the culprit was a high ranking russian intelligence officer who was in charge of deep undercover missions in america but was a double agent there's been no official comment so far as you've got piece going off as more this summer spy story between the u.s. and russia just a few months after dropping out of headlines around the world the biggest spying we must go in washington since the cold war is back. in the drama of the schools to. you ation is that the agents were turned in by their boss he's been named as colonel should about call for legend we headed the american department of russia's

foreign intelligence service know firstly more photographs have been released to journalists from the moscow based community newspaper see if they've been holding their only investigation into the story and clean he is behind blowing his colleagues cover in the united states. everyone we spoke to agreed that this was the biggest failure in the history of a foreign intelligence service some of the agents worked undercover for decades and all were given away just like wholesale. it was june when american authorities announced the captured ten people suspected of being russian secret agents all were found guilty by u.s. court and deported in exchange for four men serving time in russia themselves convicted of being foreign spies it was never going to stay out of the news for a long the story instantly made headlines especially since the russian president's first official trip to the u.s. had just come to an end it's thought colonel sort of back off left russia to america just

a few days before that movie of the visit and according to some reports a few months before that he was offered a promotion at work which could have seen him subjected to a lie detector test that some believe is why he rejected the job offer instead it suggested he turned the other way may turning in his associates the media quickly found its favorite among the group of deported agents young rich and beautiful anna chapman was deemed the russian james bond girl but did the paparazzi flashes draw focus away from the real super agent in the group mikail vision course was still in the shadows just as he had been for the past four decades that is true this is an amazing story it doesn't only have a trainer but a true hero as wells and the two absolute opposites i'm talking about with some coffee and his fantastic story. he left the soviet union in the one nine hundred sixty s. first to spin then to south america working as a photographer he eventually married and moved to the us changing his name to one

it said he continues we denied being a russian agent and to colonel sure well presented secret documents that he then revealed his true identity but intelligence experts seen naming and shaming russian operatives was probably not the prime target if you will that. was probably a us agent for a long time him self and i'm sure this whole story was instigated by the american secret service the two presidents are working to restart relations and some people are obviously against the timing of this scandal was picked perfectly. it puts another name in the frame for the russian intelligence service that's still trying to establish how a massive decades long secret operation could fall port so easily seemingly at the hands of one man igor is going off r g moscow coming up in a few minutes russia's need for speed. russia races into the formula one

world with the country's first super carmaker buying a stake in a formula one. the mail bombs sent from yemen and intercepted in britain and to dubai last month sparked a global scare after it was announced that they were bound for chicago synagogues but now reports have come to light suggesting they weren't explosives at all but part of a publicist stand by american intelligence and security services previously my colleague kevin all and talked to investigative journalist wayne madsen who gave us his take on the story. well i think we have to look back at past incidents for example the underwear bomber flying to detroit from amsterdam who was allowed to basically board the plane no questions asked we had the times square physical bomber where something fizzled in times square and and the guy was sitting there waiting to take off at kennedy airport and when the federal agents came in he said i've been expecting you know what took you so long i mean here's another case now

we're being told that this u.p.s. cargo flight was either going to blow up over new jersey new york maybe upstate new york maybe pennsylvania and maybe canada it seems like once again we've gotten one of these stories that may have been engineered prior to the election we're always sitting here in washington waiting for october surprises before major elections and this may have been another october surprise but i think the other incident interesting thing with this bomb that was supposedly found at east midlands airport prime minister david cameron was not informed for sixteen hours that this was such a major terrorist incident why did not he and the cobra team meet immediately to discuss this why did they wait sixteen hours this thing started to sound like the face infamous shampoo bombs from flights from britain to the united states which only resulted in a lot of airport security people obtaining a lot of very expensive liquor from the duty free shops when the passengers were

not allowed to board the planes with it when this all kicked over the day i was on shift most of it was of those watching the other news channels. to get on to this story the old job very very quickly got a lot of coverage to it didn't they what do we know about the counter allegations these people saying that this didn't happen the decentest of the story if you like what is the prove what why did they know any more than anyone else. well i think people don't you know there's always a very quick reaction to jump on to all these terrorist related stories obviously. maybe that some governments and some intelligence agencies have cried wolf one too many times so i think when we're seeing skepticism and cynicism about these reports i think it's because they've inundated the public with so many of these false flag stories people maybe start to be getting wise to him and maybe some people in the intelligence community are starting to leak the truth to blogs

and things like that i think we've seen skepticism from the government of god or from yemen from the united arab emirates i think we're going to have to wait to see if there is any some real smoking gun evidence that comes out right now it's all very anecdotal and can conjecture all at this point doctors treating russian journalist to caution have brought him out of his coma kushan was brutally attacked outside his home in moscow last week and his wife says he has a long recovery ahead of him dozens of conscience supporters have been gathering in central moscow r.t. states reports. protesters have been gathering throughout russia's capital demanding a couple of things first of all they want greater protections for journalists secondly they want to have a speedy and thorough investigation into the savage beating of reporter and blogger oleg caution now he was severely beaten just steps outside his apartment building early saturday morning and witnesses say that two men were standing outside

currently waiting for him and one of the alleged was holding a bouquet of flowers which concealed a rod that was relayed are used to beat caution for more than a minute he suffered severe head injuries and broken bones including a leg and an upper and lower job he has now awakened from his medically induced coma we're told that he can answer yes and no questions that he knows his name to he remembers what happens to him i would doctors are saying that they don't think that he has any severe brain damage but it's too early to tell if there are any they going to be the long term effects we're still early in the investigation but so far this case has been transferred to the country's top investigators they have a very good track record and they have experience with dealing with high profile cases so far forty people have been interviewed but so far a suspect list has not been released and you can find lots more background and

analysis on the attack on all of caution at our t.v. dot com also online tonight. as israel ignores international pressure to tear down its controversial west bank wall it's a source of money for some running special security tours of what palestinians say are the apartheid like conditions they're forced to live in that story on our web site to try to dot com. plus from diamond studded kitchen utensils to fancy helicopters find out what the super rich were blowing their billions on at moscow's millionaire fair. it's veterans day in the u.s. where the military is hoping to boost recruitment by exploiting public sympathy for fallen soldiers desertions and a fallen unless meant for forces stretched by wars in iraq and afghanistan meaning young people are being targeted to fill the ranks with gimmicks including video games archies lauren lyster spoke to an iraq veteran who says he like many more

signed up without knowing what he was in for. autumn in new york the leaves red and yellow reminders that seasons change green becomes obsolete for people to meet sergeant sure rowe first name mathis u.s. army all formerly and now but there are vets who are anti military i'm one of them here there are vets who are anti american specifically because of what they experienced and i'm one of them he keeps moving forward as a college student and activist trying to create change because he can't turn back time i came to that conclusion that personal conclusion that we were actually not just we hadn't just made a mistake but we were and continue to be in violation of the law to wage the war in iraq that i said it is imperative that i not go the math as took the military head on resistance even if more quiet is becoming more common since two thousand and four the number of soldiers who have gone a wall in the us army has gone up two hundred thirty four percent according to an

army report i would say it's an extremely linked to the wars in iraq and afghanistan to repeat deployments to even abuse within the military realities perhaps not told to young people when they enlist but use a lot of different underhanded tactics to recruit youth into the military here you can see some of those after we are you can be a baptist ok behind me the west point military academy drill team is performing because it's military appreciation night sponsored by the u.s. army and it's also a student rewards night were students as young as grade school had been given free tickets to the game. so it's also a recruiting opportunity it is what we like to call this kind of community relations if. it is it could be a recruiting event as well as outside a souped up humvee welcomes kids from this poor new york suburb off their bus. the

pretty awful hopelessness virtual reality and video games market flying drones going into battle and firing weapons you know they don't have. you know feeling suicidal again today video game inside g.i. johnny draws a crowd and a future soldier trainer game as it's called you just draws a new recruit who recently enlisted. every shot around them. the math this is nothing this young man knows will prepare him they say your travel the world and you'll meet interesting people. is really going to be basically. these promises are sold but something's missing they never address the brutality they they always leave it out they just they just say oh you know what the military is like you know if you knew your played some shoot 'em up video game one time but war isn't a game and the us military experience doesn't fit into

a half time show and looking from a veteran on the other side of it do this with my own quests a jacket to a soldier about to embark time almost stand still i also want to do something but seasons will change and time minutes soldiers will keep marching on lauren lyster r.t. new york. let's take a look at some other international news in brief at least fifteen have been killed by a massive bomb and a wave of gunfire in the center of pakistan's largest city the bomb destroyed a police compound in the same area where the u.s. consulate and regional politicians offices are located over one hundred were injured and emergency crews are now searching for survivors in the rubble police suspect the bomb may have been intended to help an escape attempt by militants held in the compounds detention center. iraqi leaders have formed a coalition government ending an eight month political standoff since in from close

of elections nouri al maliki will serve another term as prime minister under the deal which splits power between shia sunni and kurdish sides of elections in march nor the subsequent negotiations were able to produce a decisive result rockey leaders hope the new arrangement will stabilize the country's fragile security situation. russia is revving up its formula one involvement with moscow based supercar maker. snapping up stake in the british team virgin racing with a russian grand prix soon to be added to the racing calendar interest in the sport in the country is accelerating artie's tom barton has more on his driving ambition . seem to have rather exploded onto the scene let's start with the man behind the company or one of the co-owners of the company nicholai from enco a huge figure within russian racing a distinguished russian race driver and also the host of the russian version of the television motor show top gear this company the russie of which here is

a coda it's a super car maker it's revealed already some very high performance cars and next year iran's waiting with bated breath because it does announce that early next year it will unveil its first f one car totally under stock under construction in the u.k. the company itself wants to build commercial cars as well as super cars but now it has moved further into that glamorous sport of air worn by buying a large stake no figures mentioned yet but possibly not a controlling stake for certainly according to reports a large stake in the virgin racing team in britain which makes it all the formula one team so it's part of going to be on the track sooner rather than later and there will be see how they do their name itself that they're going to give it a virgin racing mind to track it if you want to see itself is

a an informal version of the russian name with the rio so you thought so in rio virgin racing which want to check it if you look from some pundits but before we start making jokes let's see how they do on the track the start of flag seems to be well and truly waved in russia over the past few days has been little bits of news coming out about formula one the biggest of them i suppose in terms of russia in the formula one scene in the world is the deal struck with formula one after decades of waiting for russia to host formula one races in the southern resort of sochi after that city hosts the winter olympics in two thousand and fourteen artie's tom barton reporting for us there now up next as the g. twenty meeting in saul our exclusive interview with russia's finance minister. now i know for the point where the hour is much better to talk about the last world

in global very fine. thank you for finding time to speak with us what a real economic results does russia want to see after the summit. first of all the world has entered a new stage of fighting the crisis through well most countries already show an economic growth that is still there and stable he would almost be very careful about discontinuing economy support measures he's immune to demand still needs to be supported with so there's this continuation of anti creches measures will be a prolonged process what are the less we're looking for ways to create private demand but we expect private demand to break through with the different methods are being used including selective support of central banks and others it is very hard to find the best solution but you do it but joint efforts by countries have been

fruitful so we hope that the whole world is not going to fold back to new problems it's. probably a challenge that. the us just poured six hundred billion dollars into their economy do you think america is exporting its crisis abroad. if. you don't wish to us he would know we shouldn't put it this harshly now i think we're at the first stage the federal reserve took the brunt of the crisis as you see it in other countries by creating sufficient demand. at that stage the fed to play the decisive role as did the european central bank those two institutions played the critical role asked for this stage discretion must be used well taken action on the world market i wouldn't call it a crisis expert right. the way all of this money can have a third different effect on different countries no doubt it will help the usa and

the usa will remain the driver of the global economy with however that easy money flowing into developing markets may boost asset prices so some countries may experience certain difficulties and i wouldn't say though that such measures that go into drive us all into another crisis. thank you. very very. i mean let's talk about china they control their currency raising production and exports germany is also a leader of exports do you think one could call this economic egoism. well speaking of china it really is pursuing a somewhat different economic policy and now it is notorious for its lack of flexibility when we say that common coordinated efforts must be more flexible this is what we must aspire to so i can say though that we must move towards this as fast as possible if china devaluates his currency now the world may not benefit

from it that much the world isn't go into in as much as china is going to lose with china is also a driver of growth these days so i think the flexible right policy should be implemented gradually. to today i detect certain minor displays if i go take on the part of some states you force. the u.s. criticizes china for devaluing the want but are practically doing the same thing with the dollar russia has reacted i think we can say calmly to this is this because russia doesn't want to tell other countries what to do is that the reason. you see at the moment russia isn't bothered much by these problems who are not suffering much from this policy now although in the medium and long term perspective we do hope that china dumps a more flexible policy today neither the policy of. the u.s. not a policy of china can hurt as much when they do which is why i would take a moderate position and always say compromises and common consensus within the g

twenty we occasionally act as an intermediary both within break and the g twenty in the search for consensus with culture russia sees it as one of its roles as well what with them still further. but there's still a lot of talk of the currency war intensifying in that case will russia get involved and will it have a choice. problem or with a busting through those problems can get worse with such a possibility exists and it is widely discussed today that if some countries keep trying to tame competitive advantages about officially keeping their currencies low this may lead to other protective measures being used so just tariff regulation are going to explode bans we will see a wave of protectionism. so we need to find a path that we will all be able to follow without seriously infringing on the balance of interests of all countries that we should not at least some countries at

the expense of others this is why we think we should be considering ways of increasing flexibility of exchange rates there have been propositions here to determine exchange rates according to the current balance of payments with and to impose maximum limits on the balance of payments well we haven't been able to implement that policy at this summit instructions have been given to finance ministries to consider these measures before the next summit the decision has been made to work on this matter and to hone that mechanism although the measures themselves were not going to amount to that base and that begins in your second responsible economic policy which shouldn't lead to currency wars like this one must provide limitations on budget deficit and foreign debt like the master issue with the treaty now we need to develop similar criteria for the world economy which is something we discussed two years ago during the crisis. but it's most likely today we will agree on the road to schedule of developing so shrinking lation that those are just first steps which will eventually lead to

a situation when there will be no imbalances that have to be corrected by way of currency wars. second we should limit currency wars themselves with those limitations on the balances of surplus payments of these measures are under way now but most likely they will be ready by the next summit because their will to live the additional seven. thank you very much for your time.

wealthy british. market. is. happening to the global economy with. the global financial headlines. bringing you the top news and headlines from around the world this is our team thanks for joining us leaders of the world's twenty richest nations are putting their heads together in seoul brainstorm a financial revival but the threat of currency wars is casting

a shadow over the summer with some countries being seen to use exchange rates to keep themselves afloat at a cost. a new twist in the transatlantic spy saga as a newspaper reveals who it claims betrayed eleven agents in the u.s. this summer a russian. newspaper cites a former. intelligence service employee. and reports claim that. it was simply a. but officials insist the packages were intercepted in the u.k. and dubai last month and that they were targeted at the u.s. . next to the second world war secrets spent decades hidden at the bottom of the black sea looks at what they might tell us about the twentieth century's most brutal conflict.